Msnbc.com and Bankrate.com Team Up to Provide Unbiased Data On Saving and Borrowing for American Consumers
REDMOND, Wash., Aug. 8, 2008 (PRIME NEWSWIRE) -- Millions of consumers now have access to search and compare the most competitive interest rates on mortgages, home equity lines, car loans and more through msnbc.com's new partnership with Bankrate.com.
On selected stories and pages throughout the business section of msnbc.com, readers will find information, which is updated nightly, with the latest rates in five categories: Mortgage, home equity, savings, auto and credit cards. By going to Bankrate.com, consumers will find a co-branded page with information on the latest rates for the selected products. They can also find tips, calculators and personal finance news from the team at Bankrate.
"We chose Bankrate.com to provide a solution for this vital information because Bankrate is known for providing clear, objective and unbiased information on rates," said Martin Wolk, business editor, msnbc.com.
Bankrate surveys nearly 5,000 financial institutions daily for rates on more than 300 financial products, including mortgages, certificates of deposit, auto loans and credit cards. Rates are submitted by financial institutions, then checked by a team of researchers including "mystery shoppers" who verify that the advertised rates are truly available. Banks that fall afoul of a "three strikes" policy are ejected from the system and must resubmit their documentation to be readmitted.
"Everything we do at Bankrate has the consumer foursquare in mind," said Bruce Zanca, Bankrate's senior vice president for marketing and communications. "What we endeavor to do is to give consumers the information they need to make better-informed decisions about their personal finance matters - particularly in regard to savings and debt."
As part of the arrangement, msnbc.com will feature occasional articles written by Bankrate.com's award-winning team of personal finance writers.
About msnbc.com
Msnbc.com delivers a fuller spectrum of news. Drawing on its award-winning original journalism, NBC News heritage, trusted sources and Microsoft's advanced technologies, the site presents compelling, diverse and visually engaging stories on the consumer's platform of choice. Based in Redmond, WA, msnbc.com is a joint venture of Microsoft (Nasdaq:MSFT) and NBC Universal (NYSE:GE). The MSNBC Digital Network (msnbc.com) was the number one Current Events and Global News site with more than 37 million unique visitors in June, 2008. Source: Nielsen Online.
About Bankrate, Inc. (Nasdaq:RATE)
The Bankrate network of companies includes Bankrate.com, Interest.com, Mortgage-calc.com, Nationwide Card Services, Savingforcollege.com, Fee Disclosure and InsureMe. Each of these businesses helps consumers to make informed decisions about their personal finance matters. The company's flagship brand, Bankrate.com is a destination site of personal finance channels, including banking, investing, taxes, debt management and college finance. Bankrate.com is the leading aggregator of rates and other information on more than 300 financial products, including mortgages, credit cards, new and used auto loans, money market accounts and CDs, checking and ATM fees, home equity loans and online banking fees. Bankrate.com reviews more than 4,800 financial institutions in 575 markets in 50 states. In 2007, Bankrate.com had nearly 60 million unique visitors. Bankrate.com provides financial applications and information to a network of more than 75 partners, including Yahoo! (Nasdaq:YHOO), America Online (NYSE:TWX), The Wall Street Journal and The New York Times (NYSE:NYT). Bankrate.com's information is also distributed through more than 500 newspapers.
CONTACT: msnbc.com
Gina Stikes
212.664.7403
Gina.stikes@msnbc.com
Bankrate
Chris Spagnuolo
917.368.8671
cspagnuolo@bankrate.com
